Nexidia Selected by Primary Financial Services to Boost Performance, Ensure Regulatory Compliance

0
9

Share on LinkedIn

Leading Provider of Customer Interaction Analytics Continues to Gain
Traction in Accounts Receivables Industry

ATLANTA, GA- August 26, 2013 – Nexidia, the leading provider of customer
interaction analytics solutions for business transformation, today announced
that Primary Financial Services LLC, a leading provider of third-party
Accounts Receivable Management (ARM) services for major financial
institutions, has selected Nexidia Interaction Analytics to boost service
quality and collector performance, as well as to ensure compliance with
federally mandated regulations.

Under the terms of the agreement, Primary Financial Services will utilize
Nexidia’s OnDemand hosted solution to analyze collector activity across all
calls to payers in order to increase the effectiveness of its accounts
receivable management. With interaction analytics, the company will
benchmark best practices of its top performing collectors and deliver
tailored coaching to improve conversion rates, as well as ensure a high
standard of customer service and professionalism.

“It’s no secret that in recent years, the accounts receivable industry has
experienced increasingly tighter scrutiny and regulation,” said Primary
Financial Services President, Tim Smith. “In addition to helping us provide
a consistently higher level of service for our clients, interaction
analytics is an indispensible tool for enabling us to dramatically reduce
enterprise risk by helping to ensure continued compliance going forward.”

With the ability to monitor, record, and analyze 100% of its collector-payer
interactions, Primary Financial Services will also be able to mitigate legal
risk by ensuring compliance to existing and new federal regulations mandated
under the Consumer Financial Protection Bureau (CFPB) and other governmental
agencies. Enabling the company to rapidly pinpoint exact words or phrases,
Nexidia Interaction Analytics is a cost-effective solution that helps
protect against potential liability by ensuring script compliance in
addition to enforcing a consistent customer experience.

“Traditional approaches for quality monitoring based on random sampling are
woefully inadequate for this closely regulated industry and expose companies
to tremendous legal risk,” said John Willcutts, Nexidia’s president and
chief executive officer. “With the ability to efficiently monitor every
single interaction, our clients have discovered that interaction analytics
has been extremely effective in mitigating this exposure by enabling a
rather profound and immediate cultural shift towards strict compliance.”

About Primary Financial
Primary Financial Services is a national collection agency, providing
accounts receivable services for major financial institutions in the areas
of student loans, credit card, lines and loans, commercial, and debt
purchasing. Founded in 1996, the company is based in Phoenix, Arizona and
licensed across the United States. In 2011, the company was purchased by CBV
Collection Services Ltd., a leading accounts receivable management company
headquartered in Vancouver, Canada, with more than 6 offices across Canada
and in the US.

About Nexidia
Nexidia provides customer interaction analytics solutions with patented
technologies and breakthrough applications that enable companies to drive
business transformation by capturing, making sense of, and using the full
range of communications they have with customers. As the traditional voice
of the customer expands from the contact center to include surveys, email,
chats, and even social media sites, Nexidia provides software and service
expertise to help companies synthesize this data into both a tactical tool
for operational improvements and a catalyst for strategic business
transformation. For more information, please visit
http://www.nexidia.com.

News Editor
CustomerThink offers a free news posting service for press releases relevant to our community. To submit your press release to our news editor, send an email to [email protected] with the press release headline and main content in the email subject line and body, respectively. That's it! Approved press releases will appear in our news category within one business day of submission.

ADD YOUR COMMENT

Please use comments to add value to the discussion. Maximum one link to an educational blog post or article. We will NOT PUBLISH brief comments like "good post," comments that mainly promote links, or comments with links to companies, products, or services.

Please enter your comment!
Please enter your name here